← HIVE Digital Technologies Ltd.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | — | $3.2b | $2.0m | $6.0m | $6.3m | $7.2m | $18.4m | $20.2m | $20.1m | $18.1m | |
| Net revenues | $15.8m | $25.1m | $60.9m | $67.8m | $56.4m | $54.9m | $57.2m | $52.4m | $61.4m | $66.1m | |
| Revenues | $0 | $0 | $32.5m | $33.7m | $14.6m | $67.7m | $211.2m | $106.3m | $114.5m | $115.3m | |
| Cost of goods sold | $380k | $730k | $20.0m | $21.2m | $5.7m | $5.6m | $13.9m | $14.9m | $15.5m | $13.6m | |
| Cost of Revenue | — | — | — | $3.6m | $3.5m | $3.9m | $5.0m | $15.7m | $12.4m | $11.5m | |
| Gross profit | $15.4m | $24.4m | $12.5m | $12.5m | $13.8m | $40.2m | $96.9m | ($31.1m) | ($26.0m) | ($39.3m) | |
| Research and development | — | $507.0m | $854k | $2.0m | $1.5m | $152k | $238k | $261k | $277k | $203k | |
| Total operating expenses | $21k | $22k | $12.2m | $13.7m | $11.7m | $3.2m | $6.2m | $7.3m | ($18.4m) | ($32.6m) | |
| Income from operations | — | — | — | — | — | — | — | — | $32.7m | $1.6m | |
| High performance computing service fees | — | — | — | — | — | — | — | — | ($635k) | ($2.0m) | |
| Depreciation | — | — | — | — | — | ($10.9m) | ($67.0m) | ($81.7m) | ($66.4m) | ($64.5m) | |
| Net realized revaluation of digital currencies | — | — | — | — | — | — | — | — | $81.8m | $33.7m | |
| Foreign exchange (loss) gain | — | — | $5.0m | $6.3m | $399k | $1.3m | $3.3m | $1.2m | $2.1m | ($5.1m) | |
| Stock-based compensation | — | — | — | — | — | — | — | — | ($7.2m) | ($10.9m) | |
| Unrealized gain (loss) on investments | — | — | — | — | — | $794k | ($838k) | ($13.4m) | $3.7m | $19.1m | |
| Realized loss on investments | — | — | — | — | — | — | — | — | $0 | ($311k) | |
| Change in fair value of derivatives | — | — | ($91k) | ($183k) | $385k | $1.8m | $1k | $17k | $362k | $3.7m | |
| (Recovery) provision on sales tax receivables | — | — | — | — | — | — | — | $0 | ($6.8m) | $966k | |
| Gain on sale of equipment | — | — | — | — | — | $9k | $2.2m | ($1.4m) | $1.1m | $18.5m | |
| Net (loss) income after tax for the year | ($41k) | ($46k) | $1.1m | ($2.7m) | $867k | ($3.2m) | ($3.5m) | ($4.0m) | $26.5m | ($3.0m) | |
| Translation adjustment | ($1.5m) | $2.4m | $178k | $335k | ($73k) | $363k | $1.1m | ($884k) | ($1.1m) | ($38k) | |
| Net (loss) income and comprehensive (loss) income | $12.4m | $26.4m | $1.2m | ($2.3m) | $794k | ($1.8m) | ($4.7m) | ($4.4m) | $25.4m | ($3.0m) | |
| Selling and marketing | $245k | $371k | $7.6m | $7.8m | $6.5m | $1.5m | $2.4m | $2.6m | $2.4m | $1.9m | |
| General and administrative | $21k | $22k | $16.7m | $17.4m | $17.1m | $1.6m | $3.6m | $4.4m | $3.5m | $3.6m | |
| Operating (loss) | $13.5m | $148.0m | $374k | ($1.1m) | $2.1m | ($1.6m) | ($1.8m) | ($2.0m) | ($1.6m) | ($1.1m) | |
| Interest and other income, net | — | — | — | — | — | $12k | — | $139k | $185k | $138k | |
| Unrealized gain on marketable securities | — | — | — | — | — | — | $242k | $38k | — | — | |
| Impairment of long-term assets | — | — | — | ($407k) | $0 | ($211k) | $0 | $954k | — | — | |
| Realized (gain)/loss on marketable securities | — | — | — | — | — | ($459k) | $6k | ($38k) | — | — | |
| PPP loan forgiveness | — | — | — | — | — | ($694k) | ($705k) | — | — | — | |
| Amortization of Intangibles | — | — | $1.3m | $1.2m | $1.1m | $1.1m | $1.1m | $1.1m | $1.6m | $1.4m | |
| Change in fair value of acquisition liabilities | — | — | — | — | — | — | — | — | $0 | $1.6m | |
| Change in fair value of warrant liability | — | — | — | — | — | — | — | — | $0 | ($1.4m) | |
| Foreign currency translation adjustment | — | — | — | — | — | — | ($1.2m) | ($329k) | ($97k) | $469k | |
| Loss (gain) on disposal of property and equipment | — | — | — | — | — | — | $9k | ($78k) | $125k | — | |
| Loss before income taxes | ($41k) | ($46k) | ($43k) | ($476k) | ($306k) | ($2.3m) | ($2.7m) | ($3.8m) | ($7.9m) | — | |
| Loss per common share (basic) | — | — | — | — | — | — | — | ($0) | ($0) | — | |
| Net loss | — | $102.0m | $7.1m | $12.0m | $1.2m | $2.3m | ($3.5m) | ($4.0m) | $2.1m | $4.6m | |
| Comprehensive loss | — | — | — | — | — | — | ($4.7m) | ($4.4m) | — | — | |
| Gain on disposal of property and equipment | — | — | ($258) | ($77k) | ($107k) | $9k | — | — | — | — | |
| Interest Income | — | — | $592k | $955k | $1.6m | $1.0m | $1.7m | $1.2m | $1.9m | $1.9m | |
| Non-controlling interest | — | — | ($2.8m) | ($3.4m) | ($255k) | ($483k) | ($2.0m) | ($1.1m) | ($1.4m) | ($1.6m) | |
| Salaries and consultants | — | — | — | $19.3m | $18.8m | $21.0m | $24.5m | — | — | — | |
| Travel | — | — | — | $6.5m | $4.2m | $663k | $1.0m | — | — | — | |
| Depreciation and amortization | — | — | $963k | $898k | $835k | $966k | $863k | — | — | — | |
| Share of net loss from equity investment | — | — | — | ($842k) | ($606k) | ($254k) | ($2.0m) | — | — | — | |
| Labor and Employee Benefits | — | — | $21.9m | $19.3m | — | — | — | — | — | $25k | |
| Non-Interest Income | — | — | — | — | — | — | — | — | $0 | $13k | |
| Common stock deemed dividends | — | — | — | — | — | — | $0 | ($146k) | $0 | — | |
| Basic and diluted | — | — | — | — | — | $1.5m | $2.5m | $6.3m | $102.4m | — | |
| Net loss Per Common Share -Basic and Diluted: | — | — | — | — | — | ($2) | ($2) | ($1) | ($0) | — | |
| Gain (loss) on debt settlement | — | — | — | — | — | — | $188k | $0 | — | — | |
| Net loss per common share - basic and diluted | ($0) | ($0) | ($1) | ($0) | ($0) | ($0) | — | — | — | — | |
| Goodwill Impairment | — | — | — | $142k | $0 | — | — | — | — | — | |
| Consulting services | — | — | — | $125k | $550k | $2k | $38k | — | $35k | $8k | |
| Professional Fees | — | — | — | $500 | $26k | $107k | $92k | $123k | $400k | $405k | |
| Forgiveness of debt and accrued interest | — | — | — | — | — | $337k | $449k | — | $197k | — | |
| Writeoff of property and equipment (net) (as restated for year ended June 30,2024 – see Note N) | — | — | — | — | — | — | — | — | ($127k) | ($199k) | |
| Write-off of note receivable and accounts receivable | — | — | — | — | — | — | — | ($355k) | — | — | |
| Amortization of debt discounts | — | — | — | ($239k) | ($1.6m) | ($841k) | ($425k) | ($50k) | ($693k) | — | |
| Impairment of goodwill | — | $0 | $709.0m | $0 | $0 | ($473k) | ($473k) | — | — | — | |
| Loss on issuance of convertible notes | — | — | — | ($309k) | ($873k) | ($2.8m) | ($217k) | — | — | — | |
| Interest and Dividend Income (Non-Bank) | — | $7.0m | $12.0m | $23.0m | $2k | $3.0m | $8k | $102.0m | $81.0m | ($3.2m) | |
| Write-off of Global Clean Solutions, LLC | — | — | — | — | — | ($250k) | — | — | — | — | |
| Less: Undeclared preferred stock dividends | — | — | — | — | — | — | — | — | $6.7m | $12.3m | |
| Net loss attributable to common shareholders, basic | — | — | ($3.2m) | ($4.5m) | ($3.4m) | ($16.7m) | ($8.0m) | ($8.3m) | ($100.8m) | ($126.1m) | |
| Net loss attributable to common shareholders, diluted | — | — | — | — | — | — | — | — | ($100.8m) | ($126.1m) | |
| Amortization of debt discount | — | — | — | — | — | — | ($18k) | — | — | — | |
| Income from Continuing Operations | — | — | ($35k) | ($463k) | ($258k) | — | — | $1.1b | $614.0m | $869.0m | |
| Less: Net loss attributable to the noncontrolling interests | — | — | $57k | $128k | $47k | $332k | $1.3m | $1.2m | — | — | |
| Deemed dividend on Series A Convertible preferred stock | — | — | — | ($29k) | ($19k) | ($20k) | ($19k) | ($8k) | — | — | |
| Legal and professional fees | — | — | $490k | $390k | $642k | $894k | $3.0m | — | — | — | |
| Gain (loss) on settlement of debt | — | — | — | — | — | $560k | ($5.5m) | — | — | — | |
| Net Interest Income | $1k | $14k | ($379k) | ($2.2m) | ($1.9m) | $5 | — | — | — | — | |
| Net loss from discontinued operations, net of income taxes | — | — | — | — | — | — | — | $0 | $0 | ($19.0m) | |
| Income (Loss) from Continuing Operations, Per Basic Share | — | — | — | — | — | — | — | $6 | $4 | $5 | |
| Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | — | — | — | — | — | — | — | $0 | $0 | ($0) | |
| Income (Loss) from Continuing Operations, Per Diluted Share | — | — | — | — | — | — | — | $6 | $4 | $5 | |
| Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share | — | — | — | — | — | — | — | $0 | $0 | ($0) | |
| Unrealized gain (loss) in fair value of cryptocurrency | — | — | — | — | — | — | — | — | — | ($17k) | |
| Realized (loss) in value of sold cryptocurrency | — | — | — | — | — | — | — | — | — | ($1.7m) | |
| Change in the fair value of derivative liability | — | — | — | — | — | — | — | — | — | $512k | |
| Change in fair value of convertible note | — | — | — | — | — | — | — | $345k | $23k | ($38k) | |
| Loss on initial issuance of private warrants | — | — | — | — | — | ($2.8m) | — | — | — | — | |
| Change in fair value of warrant liabilities | — | — | — | — | — | $498k | ($128k) | — | — | — | |
| Interest income from loans to third parties | $2.8m | $4.1m | $6.5m | $2.2m | $365k | $750 | — | — | — | — | |
| Impairment loss on loans to third parties and property and equipment | — | — | ($7.4m) | ($57.9m) | ($5.3m) | — | — | — | — | — | |
| Total other income | $2.8m | $4.1m | ($141k) | ($1.1m) | ($514k) | ($916k) | ($417k) | $177k | $185k | $138k | |
| Total extinguished debt | — | — | $25k | $2.3m | $129k | $560k | ($5.5m) | $55k | $1.6m | — | |
| Net income before income taxes | — | $179.0m | $8.0m | $13.1m | $2.3m | $3.3m | $2.1m | — | — | — | |
| Net income/(loss) | ($41k) | $24.7m | $233k | ($2.2m) | $1.6m | ($645k) | ($1.3m) | ($1.8m) | ($1.4m) | ($14.8m) | |
| Net income attributable to common stockholders - basic and diluted | — | — | — | — | — | — | ($5.2m) | ($3.5m) | ($2.9m) | — | |
| Basic (loss) income per share | — | $0.57 | $0.04 | ($0.10) | $0.03 | $0.35 | $1.02 | ($2.85) | $0.29 | ($0.02) | |
| Diluted (loss) income per share | — | $0.56 | $0.04 | ($0.10) | $0.03 | $0.33 | $0.94 | ($2.85) | $0.29 | ($0.02) | |
| Number of shares used in per share calculation (basic) | — | — | — | — | — | — | (0) | (0) | (0) | — | |
| Weighted average number of common shares outstanding - Basic | 1.7m | 1.7m | 25.0m | 25.8m | 25.9m | 5.6m | 10.6m | 10.9m | 90.0m | 127.9m | |
| Weighted average number of common shares outstanding - Diluted | — | 182.0m | 26.8m | 25.8m | 27.5m | 5.6m | 10.6m | 10.9m | 90.0m | 127.9m | |
| Weighted Average Shares Outstanding, Diluted | 20.0m | 20.9m | 2.0m | 23.0m | 312.6m | 2.0b | — | — | — | — | |
| Weighted average common shares outstanding - basic | — | — | — | — | — | 15.0b | 12.3b | 14.4b | 14.7b | 14.7b | |
| Other expenses (income) | |||||||||||
| Operating and maintenance costs | — | — | — | — | — | ($16.6m) | ($47.3m) | ($55.7m) | ($74.1m) | ($88.2m) | |
| Selling, general, administrative expenses | — | $1.1b | $9.2m | $10.5m | $9.0m | $12.0m | $11.2m | $11.4m | ($13.2m) | ($16.6m) | |
| Other income (expenses) | $21k | $24k | $241k | ($388k) | ($175k) | ($194k) | $177k | $25k | ($59k) | $346k | |
| Finance expense | — | — | — | — | — | ($1.2m) | ($3.9m) | ($3.7m) | ($3.6m) | ($2.3m) | |
| Tax expense | $0 | $0 | ($827k) | $455k | $764k | ($151k) | ($2.4m) | ($289k) | ($6.2m) | $4.6m | |
| Interest expense and other income, net | — | — | — | — | — | — | $40k | ($139k) | — | — | |
| Interest expense | — | — | ($422k) | ($312k) | ($347k) | $237k | $40k | ($765k) | $0 | ($419k) | |
| Research and Development Expense | — | — | $1.6m | $2.0m | $1.7m | $2.2m | $2.1m | $2.1m | $2.4m | $3.1m | |
| Interest expense, net | $21k | ($80.0m) | ($187k) | ($697k) | ($339k) | ($215k) | ($229k) | ($283k) | ($192k) | ($1.1m) | |
| Non-Operating Income (Expense) | — | — | ($195k) | $0 | $23k | ($192k) | ($2.0m) | ($1.0m) | $148k | $244k | |
| Depreciation Expense | — | — | $4.6m | $3.5m | $2.9m | $3.0m | $2.9m | $5k | $16k | — | |
| Selling, General and Administrative Expense | — | — | $1.8m | $6.5m | — | — | — | — | — | — | |
| Other Expense | $301k | $148k | $3.5m | $4.1m | $36k | $258k | ($86k) | ($499k) | — | — | |
| Derivative liability expense | — | — | — | ($341k) | ($61k) | ($1.1m) | $0 | ($63k) | $0 | — | |
| Warrant exercise expense | — | — | — | — | — | ($211k) | $0 | — | — | — | |
| Debt conversion expense | — | — | ($96k) | — | — | — | — | — | — | — | |
| Salary and Wage, Officer, Excluding Cost of Good and Service Sold | — | — | — | $80k | $80k | $80k | $328k | $379k | $100k | $304k | |
| Default principal and interest expense | — | — | — | — | — | ($226k) | ($22k) | — | — | — | |
| Costs of revenue | — | $1.5b | $1.1m | $3.1m | $1.7b | $1.9b | $2.0b | $1.9b | $27.5m | $35.6m | |
| Interest (expense) | — | — | — | — | ($43k) | ($58k) | ($66k) | — | — | — | |
| Interest (expense)-Related party | $21k | $24k | — | ($569) | ($5k) | ($2k) | ($2k) | — | — | — | |
| Cost of services (exclusive of depreciation and amortization) | — | — | — | $3.1m | $3.0m | $5.1m | $9.3m | $11.3m | — | — | |
| Bad debt expense | — | — | $15k | $6k | ($5k) | $17k | $98k | $115k | — | — | |
| Depreciation and amortization expense | — | — | — | $669k | $613k | $1.7m | $2.9m | $3.9m | $430k | $449k | |
| Other Operating Income (Expense), Net | — | ($16.0m) | ($33.0m) | ($20.0m) | ($44.0m) | ($17.0m) | ($8.0m) | ($15.0m) | ($14.0m) | ($20.0m) | |
| Total costs and expenses | — | $3.0b | $4.3b | $3.6b | $3.5b | $3.9b | $4.1b | $4.1b | $4.1b | $4.5b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.